Gold Technical Analysis 22 July 2020
Gold Technical Analysis: The Gold rose 1.28% against the USD on Tuesday and closed at 1841.00. Today in the Asian session, while Gold technical Analysis 22 July 2020 is preparing at 5:45 GMT, the XAU/USD trading at 1854.00, which is 0.70% higher from Yesterday’s close.
The Gold is expected to find support at 1865.00, and a fall through could take it to the next support level of 1875.00. The pair is expected to find its first resistance at 1865.00, and a rise through could take it to the next resistance level of 1890.00. Today’s expected trading range is between 1723.00, support and 1875.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1833.00
Support 2: 1823:00
Support 3: 1805:00
Important resistance levels:
Resistance 1: 1865.00
Resistance 2: 1875.00
Resistance 3: 1890.00
Gold buying opportunity for intraday trading on July 22, 2020
Buy near the support zones 1833.00 and 1823.00 as soon as you get a reversal candlestick pattern, using a stop loss 2 points below the low of the reversal candle, and keep the target equal to the stop loss.
Gold selling opportunity for intraday trading on July 22, 2020
Sell near the resistance zones 1865.00 and 1875.00 as soon as you get a reversal candlestick pattern, using a stop loss 2 points above the high of the reversal candle, and keep the target equal to the stop loss.